The MTA's finance committee agreed today to accept just $20 million up front from developer Bruce Ratner for the air rights over Atlantic Yards, the Brooklyn Paper reports. The remaining $80 million would be paid out at 6.5% interest over the next 22 years. Also, Ratner's $345 million commitment to improve infrastructure at the rail yards has been reduced to $147 million. The full MTA board of directors is expected to approve the new deal on Wednesday, barring any shoe-throwing assaults. [Brooklyn Paper]
Filed under:
Loading comments...